Ethereum Price Eyes Major Resistance At $2,100 As Analyst Reveals Bullish Price Range

Crypto analyst Ben Grey has asserted that the Ethereum price is bullish and revealed the value vary that the main altcoin is concentrating on. Nevertheless, ETH is about to face main resistance at $2,100, a stage which it wants to interrupt out from because it targets new highs. 

Ethereum Value Faces Main Resistance At $2,100

In a TradingView post, Ben Grey revealed that the Ethereum worth is going through a key resistance stage at $2,160 even because it eyes a rally to new highs. Regardless of this improvement, the analyst asserted that ETH’s market is bullish. Whereas noting that the main altcoin is fluctuating between $2,044 and $2,080, he remarked that there are indicators that Ethereum initially formed a bottom. 

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Primarily based on his evaluation of the 4-hour candlestick chart, Grey said that the Ethereum worth is trying to interrupt by means of upwards, with the important thing resistance stage at $2,160. He additional confirmed his optimism for ETH in 2025 by stating that the anticipated vary is between $2,904 and $4,887, though that places the altcoin under its present all-time high (ATH). 

In the meantime, the crypto analyst talked about that the Ethereum worth has proven a powerful and optimistic efficiency this week. Going ahead, he said that the important thing focus ought to be on whether or not ETH can break by means of the resistance stage of $2,160, which might play a key position in figuring out the altcoin’s trajectory within the quick and mid-term. 

Crypto analyst Ali Martinez additionally lately highlighted the $2,300 stage as one other resistance stage to be careful for the Ethereum worth. He famous that with ETH reclaiming $2,040, the subsequent key hurdle is that this $2,300 stage, the place the pricing bands counsel robust resistance. 

Why ETH Has Bottomed

In an X publish, crypto analyst Titan of Crypto said that the Ethereum worth is exhibiting indicators of bottoming. He revealed that the weekly Stochastic RSI bullish crossover is in oversold territory, a improvement that has usually signaled market bottoms for ETH. His accompanying chart confirmed that the leading altcoin could rally to as excessive as $6,000 because it data a bullish reversal. 

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Crypto analyst Crypto Caesar additionally said that the Ethereum worth is at the moment bottoming out and that ETH is “closely undervalued.” He added that in each bull cycle, there may be at all times a second when most market members suppose that the altcoin won’t ever recuperate after an enormous bearish occasion. Nevertheless, Ethereum at all times recovers and finally ends up making new highs. As such, the analyst believes this time gained’t be totally different, and ETH is able to stage a bullish reversal. 

On the time of writing, the Ethereum worth is buying and selling at round $2,022, down virtually 2% within the final 24 hours, in accordance with data from CoinMarketCap.

Featured picture from Unsplash, chart from Tradingview.com